Kuwait's UIC plans to invest US$300 mln in PTA plant

Kuwait's United Industries Co (UIC) plans to build a purified terephthalic acid (PTA) plant at an investment outlay of US$300 mln in Kuwait. The plant will have a capacity to produce 400,000 tpa, and will be a joint venture with Industrial Bank of Kuwait (IBK). UIC is a unit of major holdings firm Kuwait Projects Co. Designing is estimated to commence within three months and construction to be completed by 2010. The PTA will be exported primarily to the Asian markets.
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